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UK's $5.6 Billion Electricity 'Superhighway' Gets Green Light
After years of stagnation, the U.K.’s green transition finally appears to be underway, with great support from the country’s recently elected Labour government. Plans for an electricity ‘superhighway’ between Scotland and England have been approved, supported by new wind and solar energy projects across the U.K. This month, the U.K.’s energy regulator, Ofgem, approved a $5.6 billion electricity “superhighway” project, which will transport renewable power 300 miles between north-east Scotland and the north of England. The Eastern Green Link subsea power cable will be the largest in the country to date, with phase one expected to transport enough energy to power around 2 million homes in England. This will be the biggest single investment in the U.S. grid to date, to be funded by energy bills. Work on the project by SSE and National Grid is expected to commence later this year, with phase one to be completed by 2029.
read more... 26/08/2024
New Zealand to push through law to reverse ban on oil and gas exploration
New Zealand said on Monday it would pass laws by the end of this year to reverse a ban on offshore oil and gas exploration, and take urgent steps to remove regulatory hurdles to import liquefied natural gas (LNG) amid energy shortages.
read more... 26/08/2024
Daily (23.08.2024): British gas prices lost ground on Thursday due to high storage levels
Oil prices climbed by nearly 2% on Thursday as signs of robust demand in the U.S. outweighed concerns about China's struggling economy and easing Middle East tensions. Brent crude closed at $77.22 per barrel, while WTI crude settled at $73.01 per barrel.
read more... 23/08/2024
UK energy bills to climb 10% to £1,717
Ofgem has confirmed that the energy price cap will increase by 10% for the final quarter of 2024.
read more... 23/08/2024
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Europe's Gas Supply Tightens as Norway Begins Field Maintenance
Europe is facing a tighter gas market as Norwegian field operators enter scheduled maintenance season.
read more... 23/08/2024